Mcdonald Capital Investors Incca buys $117,793,016 stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Mcdonald Capital Investors Incca scooped up 70,883 additional shares in Progressive Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 3,568,404 shares of Progressive Corp which is valued at $117,793,016.Progressive Corp makes up approximately 11.97% of Mcdonald Capital Investors Incca’s portfolio.

Other Hedge Funds, Including , Mizuho Trust Banking Ltd. boosted its stake in PGR in the latest quarter, The investment management firm added 8,682 additional shares and now holds a total of 899,827 shares of Progressive Corp which is valued at $29,703,289. Progressive Corp makes up approx 0.09% of Mizuho Trust Banking Ltd.’s portfolio.Boston Private Wealth boosted its stake in PGR in the latest quarter, The investment management firm added 12,630 additional shares and now holds a total of 354,737 shares of Progressive Corp which is valued at $11,709,868. Progressive Corp makes up approx 0.46% of Boston Private Wealth’s portfolio.Hussman Strategic Advisors boosted its stake in PGR in the latest quarter, The investment management firm added 100,000 additional shares and now holds a total of 350,000 shares of Progressive Corp which is valued at $11,553,500. Progressive Corp makes up approx 1.71% of Hussman Strategic Advisors’s portfolio.California State Teachers Retirement System reduced its stake in PGR by selling 17,412 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 1,264,230 shares of PGR which is valued at $41,732,232. Progressive Corp makes up approx 0.09% of California State Teachers Retirement System’s portfolio.Private Bank Trust Co boosted its stake in PGR in the latest quarter, The investment management firm added 355 additional shares and now holds a total of 25,525 shares of Progressive Corp which is valued at $838,241. Progressive Corp makes up approx 0.13% of Private Bank Trust Co’s portfolio.

Progressive Corp opened for trading at $34.12 and hit $34.22 on the upside on Monday, eventually ending the session at $34.14, with a gain of 0.06% or 0.02 points. The heightened volatility saw the trading volume jump to 20,03,993 shares. Company has a market cap of $19,867 M.

On the company’s financial health, Progressive Corp reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $0.32. The company had revenue of $5934.60 million for the quarter, compared to analysts expectations of $5822.68 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on Progressive Corp. Progressive Corp was Downgraded by Citigroup to ” Sell” on Jun 2, 2016.

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and mutual insurance company affiliate provide personal auto insurance commercial auto and truck insurance principally for small businesses and other specialty property-casualty insurance and related services. The Company’s property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles uninsured and underinsured bodily injury and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries and limited partnership investment affiliate support its insurance and investment operations.

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